• Continued expansion of Digital Smart Label™ installations into five new locations across Canada and the U.S., including two for ACE Hardware, further builds momentum while contributing to Danavation's ongoing revenue ramp.

• Combined, the contracts are expected to generate approximately C$800,000 in one-time revenue, plus add to the Company's growing recurring revenue base.

• These installations demonstrate the success of Danavation's continued sales efforts, market share capture and established relationships with national brands

Toronto, Ontario--(Newsfile Corp. - January 9, 2023) - Danavation Technologies Corp. (CSE: DVN) (OTCQB: DVNCF) ("Danavation" or the "Company"), the only North American-founded and headquartered technology company providing micro e-paper displays, is pleased to announce that the Company has secured five new contracts for installations of our innovative Digital Smart Labels™ into two additional locations under the ACE Hardware banner, two for Fowler's Garden Centres in New York, as well as one installation for an independently operated store under a national building material brand in Quebec. The total contracted value of these five installations is expected to represent one-time revenue of approximately $800,000 with ongoing recurring revenue thereafter, for the life of the contract. Our continued success in securing installations is a testament to the value realized by deploying our Digital Smart Labels™ while also demonstrating Danavation's ability to foster trusted relationships across North America.

Installation Details

• Two ACE Hardware locations, representing our 6^th and 7^th ACE Hardware Installations

ACE Hardware is a community-minded organization with over 5,000 stores around the world, independently owned and operated by local ACE retail entrepreneurs. Ace stores come in all shapes and sizes based on the needs of each individual neighborhood, from small, urban stores to large rural stores and everything in between. These two new locations support Danavation's further expansion into the U.S. market and demonstrates our ability to foster trusted relationships with established brands such as the ACE Hardware family.

The two ACE locations are in California and South Carolina, respectively, with the latter owned by the Heuser family, and is the third installation for the Heuser ownership group (the first and second were announced April 7, 2022 and August 23, 2022. Danavation's Digital Smart Labels™ and Platform-as-a-Service (PaaS) solution are ideal to help automate in-store operations and drive improved margins by enhancing staff efficiency and reducing costs associated with inaccurate shelf pricing.

• Two Fowler's Garden Centre locations, serving customers in the state of New York

Fowler's Garden Center is a landmark family-owned business serving the community's horticultural and gardening needs for over 80 years. Known for its friendly attentive service, Fowler's has been called 'the unofficial meeting place of the Hamptons'. Fowler's carries a vast array of products and plants, and given this sizeable inventory, is an ideal candidate to realize significant benefit from the installation of our Digital Smart Labels^TM.

• One additional building materials location in Quebec

This new Quebec location is one of 17 corporate stores operated under a national building material brand in Quebec, located mainly in the Greater Montreal region. This new location is the second independently operated store under this banner to contract for Danavation's Digital Smart Labels^TM and Platform-as-a-Service (PaaS) solution. Implementing this modernized strategy is intended to drive improved margins by enhancing staff efficiency and reducing costs associated with inaccurate shelf pricing, as well as being good stewards of the environment by eliminating the use of paper shelf labels.

Accelerating Momentum

In addition to the above mentioned installations, since September 19, 2022, Danavation has announced installations of our Digital Smart Labels™ into several new retail brands across Canada and the U.S., while also securing the full roll-out of our Digital Smart Labels^TM into all 11 Impulsora stores across Mexico which is expected to be complete by mid-2023. In addition, we secured installations into one of three potential Gary & Leo's Fresh Foods IGA locations, the first of six total potential locations for Pierre Naud Inc., the first of 35 potential Rabba Fine Foods markets, the first of two Materiaux J.C. Brunet Inc. locations, an installation into KBC in Kemptville, Ontario and a full warehouse installation for Eaton Industries Canada Co. Over the past year, we have developed significant traction across North America and in Mexico, contracting with retailers spanning from local family-owned businesses to large, multi-national corporations, and we look forward to continuing to build on this momentum for the balance of 2023.

Stock Option Grant

Danavation also confirms the Company has granted options to purchase an aggregate of 2,725,000 common shares of the Company (the "Common Shares"), dated January 6^th, 2023, vested immediately, and exercisable at a price of $0.35 per share for a period of five years to certain officers, directors and consultants of the Company. The Common Shares issuable upon exercise of the options are subject to a four-month hold period from the original date of grant.

About Danavation

Danavation Technologies Corp. is the only North American-founded and headquartered technology company providing Digital Smart Labels™ and a software Platform-as-a-Service (PaaS) solution that enables companies across various sectors to automate labelling, price, product, and promotions in real-time. Danavation's Digital Smart Labels™ enhance data accuracy and improve performance by removing high labour costs and low productivity typically associated with traditional labour-intensive workflows. Our goal is to create a sustainable and profitable business for shareholders while advancing sound environmental, social and governance practices, including by significantly reducing paper usage. Danavation has introduced its solution to retailers across North America, including big box and boutique grocers, while also targeting new markets including healthcare providers, manufacturing, and logistics companies. Learn more about the background of Danavation and our vision for the future on our website. As well, follow us on LinkedIn, Instagram, Twitter and YouTube for more updates on how we are transforming the retail landscape.

For further information, please contact:

John Ricci
President & Chief Executive Officer
hello@danavation.com

Cindy Gray
5 Quarters Investor Relations, Inc.
Tel: 1-403-705-5076 | investors@danavation.com

Investor Relations - United States

Trevor Brucato, Managing Director
RBMG - RB Milestone Group LLC
New York, NY & Stamford, CT
danavation@rbmilestone.com | www.rbmilestone.com

For media relations / management interview requests:

Mr. Nelson Hudes
Hudes Communications International
Tel: 1-905-660-9155 or nelson@hudescommunications.com

Forward-Looking Information

This news release contains forward‐looking statements and forward‐looking information within the meaning of applicable securities laws. These statements relate to future events or future performance. All statements other than statements of historical fact may be forward‐looking statements or information. More particularly and without limitation, this news release contains forward‐looking statements and information relating, the future business of the Company, potential roll outs of the Company's products and services, further business from the Company's clients, industry outlook and potential and other matters. The forward‐looking statements and information are based on certain key expectations and assumptions made by management of the Company. Although management of the Company believes that the expectations and assumptions on which such forward-looking statements and information are based are reasonable, undue reliance should not be placed on the forward‐looking statements and information since no assurance can be given that they will prove to be correct.

Forward-looking statements and information are provided for the purpose of providing information about the current expectations and plans of management of the Company relating to the future. Readers are cautioned that reliance on such statements and information may not be appropriate for other purposes, such as making investment decisions. Since forward‐looking statements and information address future events and conditions, by their very nature they involve inherent risks and uncertainties. Actual results could differ materially from those currently anticipated due to a number of factors and risks. Accordingly, readers should not place undue reliance on the forward‐looking statements and information contained in this news release. Readers are cautioned that the foregoing list of factors is not exhaustive. The forward‐looking statements and information contained in this news release are made as of the date hereof and no undertaking is given to update publicly or revise any forward‐looking statements or information, whether as a result of new information, future events or otherwise, unless so required by applicable securities laws. The forward-looking statements or information contained in this news release are expressly qualified by this cautionary statement.

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